The invention discloses a 1,5-naphthalene diisocyanate type polyurethane elastomer and a preparation method and application thereof. The 1,5-naphthalene diisocyanate type polyurethane elastomer comprises a component A and a component B, and the mass ratio of the component A to the component B is 100:21.5-22.5; the component A is prepared from, by weight, 100-105 parts of polycaprolactone polyol and 26-28 parts of polyisocyanates, the content of isocyanate groups of polycaprolactone polyol is 6% by mass, the hydroxyl value is 109-115 mg KOH/g, and the polyisocyanates is 1,5-naphthalene diisocyanate; the component B is prepared from, by weight, 60-65 parts of polycaprolactone polyol with the hydroxyl value being 109-115 mg KOH/g, 35-40 parts of 1,4-butanediol and 2 parts of organic tin catalyst; trundles manufactured from the elastomer can be used for high dynamic load and continuous high-speed running and heat resisting occasions, and can be adopted as heavy type high-end forklift driving wheels and bearing wheels, and the effect is remarkable.